Canary Capital files for Tron ETF
Canary Capital files for first staked Tron ETF in the United States.
American asset management firm Canary Capital has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch the first staked Tron (TRX) exchange-traded fund in the country.
The move marks the sixth altcoin ETF proposal from the Nashville-based firm, which is rapidly expanding its footprint in the crypto ETF space, reports Cryptopolitan.
Filed on Friday, the S-1 prospectus outlines the proposed “Canary Staked TRX ETF,” which aims to offer spot price exposure to Tron while also incorporating staking functionality—a key feature of proof-of-stake networks. The fund would track the market price of TRX using data from CoinDesk Indices, and Canary Capital Group LLC will serve as the fund’s sponsor. CSC Delaware Trust Company is named as trustee.
The ETF would provide investors with regulated access to both the token’s price movements and its staking rewards, addressing growing demand for income-generating crypto products within compliant frameworks. The listing exchange for the ETF has not yet been disclosed.
Tron joins rising wave of altcoin ETF proposals
Tron (TRX), the ninth-largest cryptocurrency by market cap at $23 billion, has gained about 120% over the past year despite a recent 3% price dip. Its popularity and scalability have made it a key candidate for ETF exposure. Tron runs its own blockchain and is best known for enabling decentralized applications and internet infrastructure.
Canary’s new filing adds to its aggressive ETF strategy, which includes proposals for funds tracking Sui, XRP, Hedera (HBAR), Polkadot (DOT), and the meme-inspired Pengu. The surge in filings follows the success of Bitcoin and Ethereum ETFs, which have drawn more than $35 billion in net inflows over the past 15 months.
The broader market expects continued momentum in altcoin ETF approvals, particularly as regulatory leadership shifts. The appointment of Paul Atkins as SEC Chair, along with crypto-friendly commissioners Mark Uyeda and Hester Peirce, has sparked optimism that multiple altcoin ETFs could receive approval by mid-2025.
As institutional interest grows and the ETF landscape expands beyond Bitcoin and Ethereum, Canary Capital’s staked Tron proposal positions it at the forefront of the next wave in crypto investing.
Recently we wrote that VanEck has filed to establish a Binance Coin (BNB) exchange-traded fund (ETF) in Delaware, marking the first official move toward a U.S.-based BNB ETF.
